Sriwijaya Capital, a private equity firm focused on Southeast Asia, has announced an investment of up to USD 20 million in PT Sumber Energi Surya Nusantara (SESNA), a company working to expand solar power projects across Indonesia. The transaction marks Sriwijaya Capital’s entry into the energy transition sector and is also its first investment since the firm’s formation.

The investment reflects growing interest from private capital in Indonesia’s renewable energy sector, especially as the country pushes toward its long-term climate and energy goals. Indonesia has set a Net Zero Emissions target for 2060, creating strong momentum for clean energy development, particularly in solar power combined with energy storage.

Sriwijaya Capital’s Founder and Chairman, Arsjad Rasjid, said the firm sees strong potential in supporting a renewable energy platform that is actively contributing to Indonesia’s energy transition. He highlighted SESNA’s execution capability and its alignment with Southeast Asia’s broader decarbonisation efforts. According to him, the investment is intended to support both SESNA’s growth plans and Indonesia’s ambition to build a more sustainable and competitive economy over the long term.

Chief Executive Officer of Sriwijaya Capital, Hartanto Tjitra, said the firm aims to partner with companies that can be scaled into industry leaders. He noted that SESNA has shown strong discipline in executing renewable energy projects and that Sriwijaya Capital plans to work closely with SESNA’s management team to expand its operations and market presence.

SESNA’s Chief Executive Officer, Rico Syah Alam, described the partnership as an important milestone for the company. He said the investment validates SESNA’s strategy to scale renewable energy solutions across Indonesia and potentially Southeast Asia. He also noted that Sriwijaya Capital’s financial support and institutional network would help speed up project development while maintaining a focus on strong fundamentals and careful execution.

As part of the partnership, Sriwijaya Capital will apply its “3Cs” approach—Capital, Collaboration, and Capability—to support SESNA’s growth. SESNA currently has over 30 MWp of operational solar projects, including battery energy storage systems, and a development pipeline exceeding 450 MWp. The new investment will support the development of a 262 MWp solar power plant integrated with an 80 MWh battery energy storage system in Central Sulawesi, strengthening Indonesia’s clean energy infrastructure.